Spencer House Bed and Breakfast

Erie, Pennsylvania

Asking Price: USD $1,050,000
Guest Rooms: 6    6
Owners Quarter: 1    1

Property Overview

Spencer House Bed & Breakfast is an historic 1876 Victorian mansion located in the heart of Erie, Pa’s historic “Millionaires Row.”

The B&B has many of the fine features of the original building, with elegant wood paneling and details throughout. The Inn presents a grand first impression, with common rooms on both sides and a wooden staircase leading to the guest rooms on the second and third floors. In addition to the space currently used as Owners’ Quarters on the first floor, there is also a separate 2 story garage with an additional apartment unit upstairs that is currently utilized as a long-term rental and provides an additional revenue stream.

The surrounding neighborhood consists of larger period homes that have been converted to professional offices or other types of dwelling or business facilities.

Their location is close to Presque Isle State Park (which generates an average of about 4 million visitors to the area per year), downtown Erie, Gannon University, Erie Insurance Arena, the Bayfront Convention Center, the historic Warner Theater and Erie’s best local restaurants.

About the Owner's Quarters

1 bed/1 bath/parlor

Features:
  • Is Historic Historic
Business Description:

The Inn’s business is strong and growing – latest figures indicated an increase of 13% Y/Y revenue growth (2023 – 2024), with an astonishing 47% increase in net profit during that same time period.

Currently the only Bed and Breakfast in the city, the Spencer House presents a unique business opportunity with significant upside potential.

Valuation & Mortgage Calculator:
30 Years Fixed
n/a % Interest
  • Loan Amount
  • Principle and Interest
  • Cash Flow
  • DSCR $0
  • Cap Rate $0
  • ROI $0
Listed By
Marilyn Bushnell (Broker)
  410-422-0013
Inns, B&Bs, and Unique Lodging

Sq Ft:

7,781

Owner's Quarters Sq Ft:

324

Acres:

0

Year Built:

1876

Last Renovated:

1992

Years in Business:

43
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Financial Overview

Asking Price:

USD $1,050,000

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